Steward Health Care Completes Agreement With Lenders to Extend Current Credit Agreement Through December 2023

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DALLAS–(BUSINESS WIRE)–Steward Well being Care System LLC (Steward) in the present day introduced the completion of the extension of their ABL settlement with its lenders, by way of December 2023. Led by Citibank, N.A. as Administrative Agent, the brand new settlement amends and restates in its entirety Steward’s earlier credit score settlement.

Steward Chairman and CEO Dr. Ralph de la Torre commented, “The Covid pandemic, and its aftermath, uncovered critical fault strains within the conventional method to well being care. Steward used classes from the pandemic to refocus its nationally acclaimed value-based mannequin. The extension of our ABL coupled with our reengineered construction place us terribly properly for the approaching yr. We sit up for main the business on this new period of well being care and persevering with to supply world class care to our sufferers.”

About Steward Well being Care System:

Practically a decade in the past, Steward Well being Care System emerged as a distinct form of well being care firm designed to usher in a brand new period of wellness. One that gives our sufferers higher, extra proactive care at a sustainable price, our suppliers unmatched coordination of care, and our communities larger prosperity and stability.

Because the nation’s largest physician-led, tax paying, built-in well being care system, our docs might be sure that we share their pursuits and people of their sufferers. Collectively we’re on a mission to revolutionize the way in which well being care is delivered – creating more healthy lives, thriving communities and a greater world.

Steward is among the many nation’s largest and most profitable accountable care organizations (ACO), with greater than 5,500 suppliers and 43,000 well being care professionals who look after 12.3 million sufferers a yr by way of a intently built-in community of hospitals, multispecialty medical teams, pressing care facilities, expert nursing amenities and behavioral well being facilities.

Based mostly in Dallas, Steward presently operates 39 hospitals throughout Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah.